Longer Daylight Hours are Not the Only Positive Thing Happening for Solar Power
Dear Shareholder,
As we spring into the second quarter of 2016, the sun continues to shine brightly on the Solar Power Industry. It is becoming increasingly evident that longer daylight hours are not the only positive thing happening for solar power. The cost of generating solar energy, which was already quite an ambitious competitor to other forms of energy, continues to benefit from cost reductions. Underscoring this is a recent report offered by Deutsche Bank having outlined a decrease of nearly 40% between 2014 and 2017.
Why is this good news for us? Well, as you can imagine, the segment of the population that can now afford solar energy is enormous.
Today we stand on a foundation that we believe is the threshold of an era that will fully embrace renewable, clean, and safe energy; a priceless asset to the world community today. This paradigm shift is transpiring in part due to the deep reduction in costs as our industry matures and develops more efficient and effective designs. In a recently published graph on Bloomberg.com, which contains data compiled that mirrors the Deutsche Bank report, it was revealed that by 2017, it is anticipated that there will be one installation transpiring every 2.5 minutes.
With such a powerful trend making solar energy increasingly available to people of all financial backgrounds, imagine the opportunity that this presents for us. Much like how the Westinghouse Company innovated light independent from the sun by making electricity mainstream to the east coast in the late nineteenth century, we believe electric energy from the sun could be the fundamental evolution in energy of our generation.
Senior adviser to President Barack Obama on climate, Brian Deese, reinforced that concept when he revealed plans to “deploy low-cost solar energy in every community in the country” as stated in aNewsweek article. This being the case, we are highly optimistic about what this means for XsunX’s future. We have virtually unlimited growth potential. To date, solar energy isn’t as widely used around the United States as other energy resources, ultimately meaning that there is plenty of space for the industry to grow.
We have our sights set on expanding our business development on a particular niche in the industry, solar carports where we believe we can compete more favorably without sacrificing margins to do so. As we mentioned in our latest announcement, with logistical limitations often restricting roof-top solar applications, solar carport systems provide us the opportunity to offer customers larger, more robust project sizing, diversity in the use of existing open areas, and greater electricity savings.
Over the past months we have put our managements 30+ years of design/build experience to work developing low-cost turn-key solutions for building owners to go solar in their parking areas at costs similar to roof-top systems. Additionally, we have begun marketing to a broad range of customers, including schools, and multi-family, non-profit, and commercial organizations where the benefits delivered can be enormous.
Due to the fact that solar power has experienced such growth, and prices have fallen, it has proven to already be a great social benefit through the creation of jobs, power, and a cleaner environment; certainly making it an industry worth investing in, which is good news to consumers and investors alike. Our team here at XsunX is enthusiastic upon entering the next quarter and the start of spring with growing opportunities. We intend to be continually sharing updates regarding our progress as we move forward. We sincerely appreciate your partnership and support, as well as your interest in the industry and our Company.
Have a great rest of your week,
Tom Djokovich
Chief Executive Officer
Safe Harbor Statement
Matters discussed in this newsletter contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All statements other than statements of historical facts included in this press release are forward-looking statements. These statements relate to future events or to the Company's future financial performance, and involve known and unknown risks, uncertainties and other factors that may cause our actual results, levels of activity, performance or achievements to be materially different from any future results, levels of activity, performance or achievements expressed or implied by these forward-looking statements. Investors should not place any undue reliance on forward-looking statements since they involve known and unknown, uncertainties and other factors which are, in some cases, beyond the Company's control which could, and likely will, materially affect actual results, levels of activity, performance or achievements. Any forward-looking statement reflects the Company's current views with respect to future events and is subject to these and other risks, uncertainties and assumptions relating to operations, results of operations, growth strategy and liquidity. Such risks, uncertainties and other factors, which could impact the Company and the forward-looking statements contained herein, are included in the Company's filings with the Securities and Exchange Commission. The Company assumes no obligation to publicly update or revise these forward-looking statements for any reason, or to update the reasons actual results could differ materially from those anticipated in these forward-looking statements, even if new information becomes available in the future.
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